Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by 1ST Source Bank

1ST Source Bank raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 20.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,106 shares of the social networking company’s stock after purchasing an additional 868 shares during the quarter. 1ST Source Bank’s holdings in Meta Platforms were worth $2,575,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms in the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

META stock opened at $533.28 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $505.21 and a two-hundred day moving average price of $495.81. The stock has a market cap of $1.35 trillion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the company posted $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,574 shares of company stock valued at $185,587,773. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Morgan Stanley upped their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.